Editing by Kate Yuan

Two major IC industry funds were officially launched for developing IC industry in Hengqin District of Zhuhai, southern China's Guangdong Province. The two funds are Guangdong SummitView IC Equity Investment Fund and Guangdong-Macao Semiconductor Industry Investment Fund.

The announcement came at the 16^th China Chip IC industry Development Conference on December 20-21 in Zhuhai, which borders Macao. Industry observers commented that these funds come from both the private and government sources, representing new efforts by Guangdong Province in consolidating and lifting its position in China’s semiconductor industry.

Guangdong SummitView IC Equity Investment Fund has an RMB5 billion($78.5 million) for the first phase, focusing on chip design and upstream and downstream industry chains.

SummitView Capital (武岳峰资本) will manage this fund. The Provincial Semiconductor and Integrated Circuit Investment Fund contributed RMB1.5 billion($23.55 million), and Zhuhai RMB2.5 billion($39.25 million). SummitView Capital will raise an additional RMB1 billion($15.7 million).

Guangdong-Macao Semiconductor Industry Investment Fund exceeds 4.5 billion($70.65 million), investing in the entire industry chains of the semiconductor industry and related application areas.

Sino IC Leasing(芯鑫租赁) and Zhuhai state-owned enterprises will jointly manage this fund. Sino IC Leasing and related entities invested RMB2 billion($31.4 million), and Zhuhai city contributed RMB2.5billion ($39.25 million).

At the December 20-21 conference, there were inaugurations for unveiling Guangdong-Macao IC Design Industrial Park and the "China Chip" training program. They will be located in Hengqin and Zhuhai High-tech Zone, respectively.